PLAN OF OPERATION; REVISIONS

(a) Except as provided by Subsection (b), before a risk retention group chartered in this state may offer insurance in any state, the group must submit to the commissioner for approval a plan of operation as described by Section 2201.202. (b) A risk retention group is not required to submit a plan of operation under this section with respect to any kind or classification of liability insurance that: (1) was defined in the Product Liability Risk Retention Act of 1981 (15 U.S.C. Section 3901 et seq.), as that Act existed before October 27, 1986; and (2) was offered before October 27, 1986, by any risk retention group that had been chartered and operating for at least three years before that date. (c) The risk retention group must submit a revision of the group's plan of operation to the commissioner and the commissioner must approve the revision before the group: (1) offers an additional line of insurance in this state or in any other state; or (2) effects a change in the group's operations as described in the plan of operation.